Prime commercial shophouse in New Bridge Road up for sale at $6m

The property is approved for F&B use up to 2019.

A prime, four-storey commercial shophouse located at 21 New Bridge Road has been put up for sale via tender for $6m, according to Colliers International. 

Located opposite The Central shopping mall in District 01, the site is priced $1,333 per square foot based on a total floor area of 4,500 sq ft. It is in close proximity to Clarke Quay MRT station and the Raffles Place MRT interchange station.

“This is a rare opportunity to acquire a conservation shophouse within the prime Singapore River planning district,” said Colliers International director of capital markets & investment services Steven Tan. “The successful tenderer can apply for a lease top-up for the property which we believe will offer good potential to enhance its value and rentability, making this asset a worthy long-term investment.”

The shophouse is currently tenanted to a restaurant operator on a month-to-month basis. The property is approved for F&B use for three years until December 28, 2019. It can be sold with vacant possession and on an “as is where is basis”.

Shophouse transactions with a value of $5m and above rose a whopping 281% YoY to $478.6m in Q1 amidst strong demand from local and foreign high net worth individuals and property funds. 

The tender will close at 3pm on May 30, 2018.